Nonprofits Eligible for Idaho Rebound Cash Grants

Governor Little announced the criteria for the $300 million in Idaho Rebound Cash grants today. We’ll provide a brief summary of the most important points but highly recommend you visit the website to learn everything you need to know!

I highly suggest you do two things immediately:

1. Visit the website to get all the information and eligibility criteria. 
2. If you meet criteria we recommend making sure you have a TAP (Taxpayer Access Point) account.

Grant funds will be awarded on a first come first served basis so we recommend you are ready to submit when the application opens on the website on May 11 at noon MT. See below for more specifics on the first and second wave of application timing.

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Who is Eligible to Apply?

Any eligible Idaho-domiciled company with an Employer Identification Number (EIN) can apply for a Rebound Idaho Small Business Grant, including:

• Sole proprietorships
• Partnerships
• C-Corps
• S-Corps
• LLCs
• 501(c)(3) nonprofits
• 501(c)(6) organizations
• 501(c)(19) veterans organizations
• Tribal businesses (sec. 31(b)(2)(c) of Small Business Act)

Note: there are additional criteria laid out on the website such as number of employees and needing an active Idaho State Tax Commission withholding account and more.

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How Much are They?

Grants of up to $10,000 will be awarded to eligible applicants.

In cases where the eligible entity has received insurance compensation, an SBA-backed Paycheck Protection Program (PPP) loan, or other federal assistance less than $10,000, the grant will be the difference between the award amount and the insurance compensation or loan.

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What is a Qualified Business Interruption?

The business or nonprofit must have suffered business interruption due to COVID-19 required closures, which may include but is not limited to:

• Reduced sales or suspended operations
• Increased costs related to COVID-19 prevention measures
• Disrupted supply network leading to shortage of critical inventory or materials
  

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What can we use the Grant Funds for?

The Rebound Idaho Small Business Grants may be used to reimburse the costs of business interruption caused by required closures which may include:

• Personal Protective Equipment (PPE)
• Inventory
• Equipment
• Rent
• Utilities

Funds must be expended in compliance with state and federal law.

How do I Apply?

1. The Idaho State Tax Commission will handle applications. All applicants must first establish a secure Taxpayer Access Point (TAP) account to protect their personal and business information on submitted applications. Small businesses are encouraged to start this process as soon as possible – well in advance of the application waves opening.
   
   
2. Applications may be submitted by following the link on the website
   

Because they may receive more applications than available grants, applications will be handled in two waves:

• Eligible entities with one to 19 employees may apply starting at noon MT on May 11, 2020.
• Eligible entities with one to 50 employees may apply starting at noon MT on May 18, 2020 (subject to available funding).

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How will Awards be Selected?

Grants will be awarded until the total program funding is expended. 

The first wave of applicants will open at noon MT on May 11 and close at noon MT on May 15

• If the available funds exceed the number of eligible first-wave applicants, all qualified applicants will be awarded funding.
• If the number of eligible first-wave applicants exceeds the available funds, a lottery system will be used to determine awards.
• Subject to available funding, the second wave of applicants will open at noon MT on May 18 and close at noon MT on May 22
• If the remaining funds exceed the number of eligible second-wave applicants, all qualified applicants will be awarded funding.
• If the number of eligible second-wave applicants exceeds the remaining funds, a lottery system will be used to determine awards.

Additional waves of applications may be announced if any funding remains. In such cases, the Coronavirus Financial Advisory Committee (CFAC) may modify the eligibility criteria for grants.

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Who can you Contact for More Information?

The grant application and approval process is intended to be fully automated, allowing grant payments to be issued rapidly. Information about the status of your grant application can be found in your TAP account. 

For more information, email ReboundIdahoBusinessGrant@tax.idaho.gov or call 833-492-0068 toll free. High call and email volumes may delay responses.